The changing nature of the wealth management industry has focused firms’ attention on finding executives who can tie together multiple wealt...

The changing nature of the wealth management industry has focused firms’ attention on finding executives who can tie together multiple wealth offerings, said Peter Stanton, head of the new wealth recruiting business for executive search firm, Glocap Group. Mr Stanton, formerly a vice president and director of banking strategy for UBS Wealth Management in the US, was brought into the recruiting agency to place executives within large investment firms looking to integrate banking, securities and wealth management services. “The winning firms in wealth management in the next three to five years will be those that have the ability to create confidence in their clients they can be the one-stop-shop for all their needs,” Mr Stanton told WealthBriefing. Glocap will build its wealth management recruitment presence starting in New York with another three to five appointments from within the banking and investment industry, said Mr Stanton, and possibly into its other offices in Seattle, San Francisco and London depending on demand towards the end of this year. Glocap is an established recruiter in investment banking, hedge funds and the alternative assets space. Wealth management used to be just thought of as investment, now it’s everything from loans to banking to estate planning… there is a lot of change in this industry at the moment,” said Mr Stanton.